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Feb 7, 2013
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taxes. if the sequester is allowed to take place and a continuing resolution is not fixed, the department of defense stands to lose billions of dollars. the vice chairman of the joint chiefs said, "there could be for the first time in his career instances where he may be asked to respond to the crisis, and we may not be able to do it." where i am really pleased to the committee that we have and the minority in the senate, we have a lot of talent there. we will use all of that talent, we have people who are heading up are six committees, senators sessions, mccain, gramm, a -- ayotte and others on the committee. it has been my strategy in the past use this town to make sure they are the ones who will be driving it. senator ayotte. it will not be a one-man show. senator ayotte is the one who has been driving this so far. with this, the bill, which will explain what we will be doing with that. kelly? >> thank you, senator inhofe. i want to for thank senator mckeon and my colleagues senators mcca
taxes. if the sequester is allowed to take place and a continuing resolution is not fixed, the department of defense stands to lose billions of dollars. the vice chairman of the joint chiefs said, "there could be for the first time in his career instances where he may be asked to respond to the crisis, and we may not be able to do it." where i am really pleased to the committee that we have and the minority in the senate, we have a lot of talent there. we will use all of that talent,...
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Feb 7, 2013
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we take no tax dollars. we don't have the ability to reduce costs in a way a private business would. and we are at the end of our borrowing authority. to give some perspective of our liquid situation, a typical large organization would either have cash on hand or quick borrowing ability. in october, the postal service had less than four days of cash on hand. that's a very scary situation and no situation that a business should be in. and this is why we have taken aggressive steps to reduce our costs and why we have been so vocal about seeking postal reform legislation. we faced a major hurdle to return to profitability and long-term stability. we need to generate $20 billion in cost reductions and revenue increases to close the budget gap and be able to repay our debt, both close the gap and repay the debt. and this is why the board of governors has directed us to take every necessary step to reduce costs and conserve cash necessary to continue our operations. it's what we have been doing consistently over t
we take no tax dollars. we don't have the ability to reduce costs in a way a private business would. and we are at the end of our borrowing authority. to give some perspective of our liquid situation, a typical large organization would either have cash on hand or quick borrowing ability. in october, the postal service had less than four days of cash on hand. that's a very scary situation and no situation that a business should be in. and this is why we have taken aggressive steps to reduce our...
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Feb 8, 2013
02/13
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do you believe the tax and the said debate is harmful? -- the tax debate is harmful? >> going from one of these to another, going from the fiscal cliff to the -- to sequestration, i think that is disruptive. our competitors are siemens are people like that. if i quit for six months, my global competitors will kill me. these are the people we think are the heart of the u.s. economy, whether you are republican or democrat, you say you like and those of the ones -- those of the ones that call. this can only be solved here. this may be a case where -- it would be great to get resolution. >> large companies like yours would benefit more from corporate tax reform, especially going to church -- territorial surpluseplaces. it looks like corporations are doing pretty well if you look at profits. what is the case? >> would it be unfair for me to ask for? >> i do not think it is. just give me a playing field where i can do the things you want me to do. we should have a tax system that allows us to compete with relative competitors. that's all i would ask for. the same system tha
do you believe the tax and the said debate is harmful? -- the tax debate is harmful? >> going from one of these to another, going from the fiscal cliff to the -- to sequestration, i think that is disruptive. our competitors are siemens are people like that. if i quit for six months, my global competitors will kill me. these are the people we think are the heart of the u.s. economy, whether you are republican or democrat, you say you like and those of the ones -- those of the ones that...
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Feb 1, 2013
02/13
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i will not quiz you on 841, so you can take a deep breath. 841 is designed to protect americans' tax dollars from corrupt contracts that benefit the enemy. we are working in provisions that will make more effective the procedures for terminating those contracts, getting back american dollars, extending those protections to non-defense dollars, and i hope that we can have your commitment to work with us on that area. >> you have that commitment. i will enthusiastically work with you in this area. >> thank you. i appreciate your frank and forthright answers, and i do not know whether i will be here for the second round of questioning, but i want to express my sincere gratitude to you for your willingness to serve and your patience and forthrightness in entering all our questions. thank you. >> thank you, senator blumenthal. >> thank you, senator hagel, for being here today and thank you for your service to this country. it is good to see your wife and brothers behind you as an indication of the family commitment as well as your personal commitment. there are several things i may get to
i will not quiz you on 841, so you can take a deep breath. 841 is designed to protect americans' tax dollars from corrupt contracts that benefit the enemy. we are working in provisions that will make more effective the procedures for terminating those contracts, getting back american dollars, extending those protections to non-defense dollars, and i hope that we can have your commitment to work with us on that area. >> you have that commitment. i will enthusiastically work with you in...